Google Offered $30 Billion for Snapchat Acquisition in 2016


Google has been around the markets for a really long time now and is an unstoppable force in the world of internet technology. The company has been bringing about a change in the way the markets of technology function. Google operates across various verticals ranging from software to hardware technology. However the one thing that still eludes Google is the fact that they are yet to create a proper, sustainable social network. Reports indicate that last year, Google was interested in acquiring Snapchat for $30 Billion.

These reports come via Business Insider. The report states that in May last year, around the time Snapchat was going through funding series F, Google had contacted Snapchat for an acquisition. The acquisition would involve Google taking over the parent company Snap. However, that deal was refused by the company.

Google did not give up and contacted them again during March of 2017, around the time the company was going public with their IPO. They did get listed on the New York Stock Exchange, and Google’s offer was once again rejected. What was quite interesting here was the offer that Google made, which was worth $30 Billion was twice what the company’s worth was after the IPO. However, Snapchat once again, refused.

Google has been linked with having been interested in a number of acquisitions which have never really happened. At some point of time Google was interested in acquiring SoundCloud, Spotify, Dashcam, Twitch and even Twitter. However all of these deals fell through at some point of time and social network dreams still elude Google.

In another interesting note, however, Google has not given up on Snapchat yet. Even after the company having refused their offer twice, Google’s deal is still ‘on the table’ and the company is still eager to acquire Snap. As of now neither of the parties have commented on the matter but this information is said to be an ‘Open Secret’ among insiders.